Mr. Ed Sibley:

The nature of non-performing loans across the eurozone is that they are high in some jurisdictions and in some institutions, and typically quite low in other institutions and jurisdictions. The use of an average is not very helpful, particularly as there are very low numbers and quite high numbers. There is not a push or a target. It is a reference point to discuss. Actually, we should be striving to reduce non-performing loans because they cause distress for borrowers, are problematic from a resilience perspective and give rise to issues in the context of the functioning of the system. There is not a 5% target.